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Sep 24 - 01:55 AM

USD/JPY - Cloud Break Sustained - Key Resistance Under Pressure

By Andrew M Spencer  —  Sep 23 - 11:35 PM

  • +0.1% at the top of a 110.20-110.43 range, resilient risk - Nikkei +1.9%

  • Japan August core CPI was flat - well below the BoJ target nL4N2QP2N9

  • PMI slowed as output and orders contracted due to COVID-19 nZRN002VEI

  • Effectiveness of Abenomics a key factor for LDP leadership nL4N2QQ0FG

  • Tenkan line poised to cross the horizontal Kijun line - positive signal

  • Break above the daily cloud sustained in Tokyo - 110.45 Sept high caps

  • 110.50 break to target 110.80 August high, then 110.96, 76.4% Jul-Aug fall

  • 109.86 and 110.19 daily cloud parameters are now initial supports

For more click on FXBUZ


jpy 2 Sep 24 Click here

Source:
Refinitiv IFR Research/Market Commentary

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